Griffon (NYSE:GFF) Director Cheryl Turnbull Sells 3,000 Shares of Stock

Griffon Corporation (NYSE:GFF) Director Cheryl Turnbull sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $106.12, for a total value of $318,360.00. Following the transaction, the director directly owned 30,039 shares of the company’s stock, valued at $3,187,738.68. The trade was a 9.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Griffon Stock Performance

NYSE GFF opened at $104.17 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $108.57. The business has a fifty day moving average of $93.89 and a 200-day moving average of $86.81. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 26.57 and a beta of 1.44.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The business had revenue of $481.37 million for the quarter, compared to analyst estimates of $457.70 million. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The business’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. As a group, analysts predict that Griffon Corporation will post 5.41 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Griffon’s dividend payout ratio is 22.45%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GFF shares. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens raised their target price on shares of Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Griffon in a research note on Friday, August 7th. Robert W. Baird set a $125.00 price target on Griffon in a report on Thursday, August 6th. Finally, Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $122.50.

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its position in Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 211 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Griffon in the 1st quarter valued at $29,000. Ancora Advisors LLC purchased a new stake in shares of Griffon during the 2nd quarter valued at $40,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon during the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after buying an additional 388 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Company Profile

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.